HYDB vs. HYEM
HYDB (iShares High Yield Bond Factor ETF) and HYEM (VanEck Vectors Emerging Markets High Yield Bond ETF) are both High Yield Bonds funds - HYDB tracks the BlackRock High Yield Defensive Bond Index while HYEM tracks the BofA Merrill Lynch Diversified High Yield US Emerging Markets Corporate Plus Index. Both are passively managed. Over the past 5 years, HYDB returned 4.67%/yr vs 3.04%/yr for HYEM. At a 0.47 correlation, their price movements are largely independent. HYDB charges 0.35%/yr vs 0.40%/yr for HYEM.
Performance
HYDB vs. HYEM - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, HYDB achieves a 1.32% return, which is significantly lower than HYEM's 3.92% return.
HYDB
- 1D
- -0.21%
- 1M
- 0.39%
- YTD
- 1.32%
- 6M
- 1.87%
- 1Y
- 7.20%
- 3Y*
- 9.11%
- 5Y*
- 4.67%
- 10Y*
- —
HYEM
- 1D
- -0.10%
- 1M
- 1.26%
- YTD
- 3.92%
- 6M
- 4.87%
- 1Y
- 10.30%
- 3Y*
- 11.00%
- 5Y*
- 3.04%
- 10Y*
- 4.65%
HYDB vs. HYEM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HYDB iShares High Yield Bond Factor ETF | 1.32% | 8.10% | 9.11% | 14.02% | -9.99% | 5.14% | 7.39% | 16.13% | -3.18% | 3.38% |
HYEM VanEck Vectors Emerging Markets High Yield Bond ETF | 3.92% | 9.24% | 12.14% | 8.35% | -13.39% | -1.31% | 6.87% | 12.85% | -3.38% | 2.93% |
Correlation
The correlation between HYDB and HYEM is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.45 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.52 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.58 |
Correlation (All Time) Calculated using the full available price history since Jul 14, 2017 | 0.47 |
The correlation between HYDB and HYEM shifts across timeframes, from 0.45 (1 year) to 0.58 (5 years), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
HYDB vs. HYEM — Risk / Return Rank
HYDB
HYEM
HYDB vs. HYEM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares High Yield Bond Factor ETF (HYDB) and VanEck Vectors Emerging Markets High Yield Bond ETF (HYEM). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| HYDB | HYEM | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.91 | 2.39 | -0.48 |
Sortino ratioReturn per unit of downside risk | 2.88 | 3.50 | -0.62 |
Omega ratioGain probability vs. loss probability | 1.37 | 1.47 | -0.10 |
Calmar ratioReturn relative to maximum drawdown | 2.55 | 3.79 | -1.24 |
Martin ratioReturn relative to average drawdown | 11.30 | 15.48 | -4.18 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| HYDB | HYEM | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.91 | 2.39 | -0.48 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.67 | 0.41 | +0.26 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.50 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.71 | 0.54 | +0.17 |
Drawdowns
HYDB vs. HYEM - Drawdown Comparison
The maximum HYDB drawdown since its inception was -21.58%, smaller than the maximum HYEM drawdown of -30.96%. Use the drawdown chart below to compare losses from any high point for HYDB and HYEM.
Loading charts...
Drawdown Indicators
| HYDB | HYEM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.58% | -30.96% | +9.38% |
Max Drawdown (1Y)Largest decline over 1 year | -2.83% | -2.73% | -0.10% |
Max Drawdown (3Y)Largest decline over 3 years | -5.58% | -5.23% | -0.35% |
Max Drawdown (5Y)Largest decline over 5 years | -14.28% | -26.30% | +12.02% |
Max Drawdown (10Y)Largest decline over 10 years | — | -30.96% | — |
Current DrawdownCurrent decline from peak | -0.21% | -0.10% | -0.11% |
Average DrawdownAverage peak-to-trough decline | -2.39% | -4.40% | +2.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.64% | 0.67% | -0.03% |
Volatility
HYDB vs. HYEM - Volatility Comparison
The current volatility for iShares High Yield Bond Factor ETF (HYDB) is 1.13%, while VanEck Vectors Emerging Markets High Yield Bond ETF (HYEM) has a volatility of 1.33%. This indicates that HYDB experiences smaller price fluctuations and is considered to be less risky than HYEM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| HYDB | HYEM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.13% | 1.33% | -0.20% |
Volatility (6M)Calculated over the trailing 6-month period | 2.93% | 3.24% | -0.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.79% | 4.33% | -0.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.04% | 7.49% | -0.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.76% | 9.27% | -1.51% |
HYDB vs. HYEM - Expense Ratio Comparison
HYDB has a 0.35% expense ratio, which is lower than HYEM's 0.40% expense ratio.
Dividends
HYDB vs. HYEM - Dividend Comparison
HYDB's dividend yield for the trailing twelve months is around 7.00%, more than HYEM's 6.52% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYDB iShares High Yield Bond Factor ETF | 7.00% | 7.04% | 6.95% | 7.00% | 6.30% | 4.70% | 5.81% | 5.68% | 6.16% | 2.70% | 0.00% | 0.00% |
HYEM VanEck Vectors Emerging Markets High Yield Bond ETF | 6.52% | 6.67% | 6.34% | 6.27% | 6.47% | 5.33% | 5.56% | 6.14% | 5.71% | 5.86% | 6.25% | 7.64% |
Frequently Asked Questions
HYDB and HYEM have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HYEM has higher volatility (1.33%) compared to HYDB (1.13%). In terms of maximum drawdown, HYDB dropped -21.58% vs HYEM's -30.96%.
On 5-year performance, HYDB leads with 4.67% vs 3.04% for HYEM. On fees, HYDB is cheaper at 0.35% per year. On volatility, HYDB has been the lower-risk option at 1.13%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, HYDB has performed better with a 4.67% return vs 3.04%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
HYDB is cheaper with a 0.35% expense ratio, compared with 0.40% for HYEM.
HYDB has the higher dividend yield at 7.00%, compared with 6.52% for HYEM.
HYDB tracks BlackRock High Yield Defensive Bond Index, while HYEM tracks BofA Merrill Lynch Diversified High Yield US Emerging Markets Corporate Plus Index. They also come from different issuers: iShares and VanEck. Their fees differ too: 0.35% for HYDB and 0.40% for HYEM.
HYEM currently has the higher Sharpe Ratio (2.39 vs 1.91), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
Find the right allocation for HYDB and HYEM
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer